Other Provisions - GMSLA Provision: Difference between revisions
Jump to navigation
Jump to search
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 2: | Line 2: | ||
Depending on your own credit department’s yen for additional termination events that don’t really make a lot of sense in the context of an agreement covering short term and on-call transactions, you may see additional provisions: | Depending on your own credit department’s yen for additional termination events that don’t really make a lot of sense in the context of an agreement covering short term and on-call transactions, you may see additional provisions: | ||
*Inserting a [[cross default]] - which is utterly absurd for fully-collateralised, daily-margined, short-tenor arrangements like stock loans, and will add a couple of extra pages of text you can then expect to fight over, covering [[Threshold Amount - ISDA Provision|thresholds]], [[Specified Indebtedness - ISDA Provision|specified indebtedness]], [[Grace period|grace periods]] and the like. | *Inserting a [[cross default]] - which is utterly absurd for fully-collateralised, daily-margined, short-tenor arrangements like stock loans, and will add a couple of extra pages of text you can then expect to fight over, covering [[Threshold Amount - ISDA Provision|thresholds]], [[Specified Indebtedness - ISDA Provision|specified indebtedness]], [[Grace period|grace periods]] and the like. | ||
*Provisions dealing with [[trade reporting]] to | *Provisions dealing with [[trade reporting]] to [[Hong Kong]] revenue authorities for [[stamp duty]] | ||
*Enhanced US tax provisions ({{gmslaprov|12.2}} will get a workover); | *Enhanced US tax provisions ({{gmslaprov|12.2}} will get a workover); | ||
*[[Stay]] language (Swiss, US etc) | *[[Stay]] language (Swiss, US etc) | ||
Latest revision as of 13:30, 14 August 2024
Depending on your own credit department’s yen for additional termination events that don’t really make a lot of sense in the context of an agreement covering short term and on-call transactions, you may see additional provisions:
- Inserting a cross default - which is utterly absurd for fully-collateralised, daily-margined, short-tenor arrangements like stock loans, and will add a couple of extra pages of text you can then expect to fight over, covering thresholds, specified indebtedness, grace periods and the like.
- Provisions dealing with trade reporting to Hong Kong revenue authorities for stamp duty
- Enhanced US tax provisions (12.2 will get a workover);
- Stay language (Swiss, US etc)